What should I charge for public relations? I have a degree and a year and a half PR firm experience.?

Question

I'm going to start doing some freelance work for my old boss.
My client wants me to submit an hourly rate and I have no clue what to charge her. I make roughly 30,000 at my firm right now, and I want to be fair to her because she is a former boss.
Thanks for the help.

Answer 1

Well assuming you had 2-weeks of vacation you worked 2000 hours per year for 30,000 but you also had benefits. Lets assume your benefits are worth 5000. So thats 35,000 divided by 2000 hours - that makes your labor worth roughly $17.50 per hour. I'm assuming you wont have expenses so I wont factor that in but if you do, you should. Also, you need to add "profit" - when you freelance you are SUPPOSED to make a little more because you are taking risks and incurring expenses and using your personal resources like your home computer. You are going to want to add at least 15%, so thats $20.13 per hour. As a self-employed person you will pay 7.65% self-employment tax, so you will want to add that in. That brings us up to $20.74. That should be the MINIMUM you accept. You may also want to do some market research to find out what other PR firms charge but I think they charge in the $50-100 per hour range - you cant charge that much because you are still relatively new to PR (year and a half) but she obviously likes you so I think charging $25 - $30.00 is entirely fair to both sides given market conditions and your experience.

Answer 2

it is pure math.

and I can also JV with you and bring you lots of biz.

do a biz plan and within it, the math will show you need whatever you were earning times
5.

Employees, thus, must generate 5x in revenue for their boss what they net in a salary.